Answer:
1545.62
Step-by-step explanation:
The calculation of compound interests uses this formula:
<h2>
![A = P (1 + \frac{r}{n} )^{n*t}](https://tex.z-dn.net/?f=A%20%3D%20P%20%281%20%2B%20%5Cfrac%7Br%7D%7Bn%7D%20%29%5E%7Bn%2At%7D)
</h2>
Where A = total amount, P = principal or amount of money deposited, r = annual interest rate, n = number of times compounded per year and t = time in years.
So, if we plug-in the numbers of the problem we have:
<h2>
![A = 1500 (1 + \frac{0.03}{12} )^{12*1}](https://tex.z-dn.net/?f=A%20%3D%201500%20%281%20%2B%20%5Cfrac%7B0.03%7D%7B12%7D%20%29%5E%7B12%2A1%7D)
</h2>
Which gives us:
![A = 1500 * 1.0025^{12} = 1500 * 1.030416 = 1545.62](https://tex.z-dn.net/?f=A%20%3D%201500%20%2A%201.0025%5E%7B12%7D%20%3D%201500%20%2A%201.030416%20%3D%201545.62)
For a grand total of 1,545.62 including capital and interests.